Slovak crown at records highs, key level eyed

07.11.2006 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

    BRATISLAVA, Nov 7 (Reuters) - The Slovak crown touched a 
record high against the euro on Tuesday, driven by bullish 
sentiment on emerging markets with traders predicting more gains 
in the coming days. 
    The crown reached as high as 36.07 to the euro before easing 
back to 36.130 <0#EURSKK=> as of 1550 GMT, a touch firmer from 
36.175 late on Monday. 
    "It's likely foreign bank clients will push the crown to 
break the 36.0 per euro level," said Tatra Banka dealer Boris 
Somorovsky. "It's only question of time and also how the mood on 
emerging markets will be." 
    Some analysts warned a correction on profit taking could 
come given the crown's 3.5 percent rise over the past month. 
    The crown is trading 6.43 percent above its central parity 
within the Exchange Rate Mechanism 2 (ERM-2), which Slovaks 
joined in November last year. 
----------------MARKET SNAPSHOT AT 1550 GMT------------------- 
Crown/Euro <EURSKK=> 36.130 vs 36.175 on Monday (+0.12 pct) 
Crown/Dollar <SKK=>  28.238 vs 28.457 (+0.46 pct) 
5-yr govt bond <SK5YT=RR> yield 4.400/199 at 4.400/201 pct 
8-yr govt bond <SK8YT=RR> yield 4.377/176 vs 4.429/4.229 
-------------------------------------------------------------- 
  ((Reporting by Martin Santa, editing by Ron Askew; Reuters 
Messaging: martin.santa.reuters.com@reuters.net; +421 5341 
8402)) 
  Keywords: MARKETS SLOVAKIA CROWN CLOSE 
    

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